HUD countered, should I be excited?? What do I do now?
I found a SFH property in a county in MD where conservatively the ARV is $165K. I submitted a net-to-hud bid of $70K. Their list was $125k. They are countering at $110. It was listed on the 10th of the month.
I'm not going up that high. I'm just wondering if I'm somewhere on the radar - in other words, if my 70K net bid was so outrageous it wouldn't even get a counter mention. So should I just keep rebidding?
Another question is, has anyone ever re-bid LESS that the original when presented with the opportunity to counter?
This is my first HUD experience. I'm excited because I expected a complete rejection from the outset (though I know the chance of this actually become a deal is probably slim to none, lots of competition around here). I've read tons of posts here and lots by @Mark Ferguson. I've seen a back-and-forth about ticking off asset managers. I certainly don't want to do that. But others say it's all automated and that's the beauty of it.
All the BP posts on HUD have been very helpful.